Capital Square, a leading sponsor of tax-advantaged real estate investments and an active developer and manager of housing communities nationwide, today announced the launch of CS1031 Colony at Centerpointe Apartments, DST, a Delaware statutory trust offering ownership interests in a 255-unit, Class A-, garden-style apartment community located in the Richmond suburb of Midlothian, Virginia. The offering seeks to raise $42.95 million in equity from accredited investors seeking quality replacement properties for Section 1031 exchanges, along with others seeking stable cash flow and capital appreciation.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260803007106/en/

Colony at Centerpointe Apartments

“Colony at Centerpointe is the type of well-located multifamily asset that 1031 exchange investors are seeking,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “The Richmond metropolitan area continues to be one of Capital Square’s highest-growth markets. Adding a 255-unit community in Midlothian deepens Capital Square’s footprint on our home turf, where we already oversee more than 4,200 apartment units.”

Located at 14400 Palladium Drive, Colony at Centerpointe Apartments offers one-, two- and three-bedroom apartments averaging 1,149 square feet. High-quality interior finishes include granite countertops, stainless steel appliances, shaker-style cabinetry, brushed nickel hardware, in-unit washers and dryers, private balconies or patios, walk-in closets and nine-foot ceilings. Community amenities include a saltwater swimming pool with sundeck, resident clubhouse with a package delivery center, fitness center and yoga studio, bocce ball court, dog park, business center, bike storage and firepit and grilling areas.

The property is accessible to some of the region’s largest employers, including VCU Health, HCA Virginia Health System, Virginia Commonwealth University, Dominion Energy and Truist. Approximately one mile from the property, Bon Secours St. Francis Medical Center completed a $108 million expansion in 2024, adding 55 acute-care beds that raised the total bed count to 185, and is currently building a three-story, 87,790-square-foot medical office building across from the main hospital building. In March, Bon Secours received state approval to further expand St. Francis with 40 additional acute-care beds.

Notable development projects in the area surrounding Colony at Centerpointe include Midlothian Depot, a Whole Foods-anchored retail center slated to open in spring 2027; Springline at District 60, a $210 million mixed-use redevelopment; The Lake, a $323 million mixed-use project featuring a destination surf park; and Cosby Village Square, a Publix-anchored mixed-use center totaling 122,560 square feet. Google also recently acquired more than 1,500 acres across Chesterfield County as part of its broader $9 billion investment in Virginia.

The Richmond metropolitan area is home to six Fortune 500 companies. Additional investments in the region include CoStar’s newly constructed $460 million campus expansion that added 2,000 jobs and LEGO Group’s construction underway on a 1.7 million-square-foot facility at Meadowville Technology Park.

“Midlothian is one of the most fundamentally sound submarkets in the Richmond region, and the demographics bear that out,” said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. “Household incomes in the immediate area are well above regional averages; the population has grown steadily in recent years; and rents remain highly affordable relative to both local income levels and the cost of homeownership in the submarket. That combination of demographic strength, deep affordability and meaningful rent growth potential is exactly what we look for when underwriting a long-term multifamily investment.”

Owners of Class A assets in Midlothian have grown rents by more than 22% over the past five years. Vacancy rates average 7.2% according to CoStar, while Colony at Centerpointe is currently 94.1% occupied. The three multifamily projects under construction in the broader area are located several miles away on or near Midlothian Turnpike, with no new multifamily projects underway within three miles of the property.

Chesterfield County is the largest locality in the Richmond MSA and registered the largest nominal population increase of any of Virginia’s 133 jurisdictions from 2020 to 2025, adding 36,753 residents to reach a total population of 401,301. Chesterfield accounted for 42% of all population growth across the Richmond MSA during that period, according to Chesterfield Economic Development, Population & Demographics, 2026. The Chesterfield County Public Schools district is ranked among the top 10 school districts in Virginia, and Colony at Centerpointe’s designated schools reflect that reputation, led by Midlothian High School (Niche grade: A). The school system drives household demand in the submarket and helps support long-term occupancy stability.

The property is adjacent to Sapphire at Centerpointe, a 192-unit community also managed by Capital Square Living. Capital Square oversees 19 multifamily properties with more than 4,200 apartment units combined throughout the Richmond metropolitan area.

Since its founding in 2012, Capital Square has acquired more than 175 real estate assets on behalf of over 6,500 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code, along with others seeking stable cash flow and capital appreciation.

About Capital Square

Capital Square is a vertically integrated, national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion, development funds and a real estate investment trust (REIT). The company is also an active developer and manager of multifamily communities. Since 2012, Capital Square has completed more than $9.1 billion in transaction volume. Its mixed-use development projects total over 2,700 housing units with an aggregate development value in excess of $1 billion, and Capital Square Living, the firm’s property management division, oversees nearly 14,000 apartments across eight states. Capital Square’s related entities provide a range of services – including due diligence, acquisition, loan sourcing, property/asset management and disposition – for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. The company has been recognized by Inc. 5000 as one of the fastest-growing private companies in the nation for nine consecutive years. Learn more at CapitalSq.com.

Disclosure

Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to sell any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative and illiquid. Diversification does not guarantee profits or protect against losses. FINRA Broker Check link: https://brokercheck.finra.org/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260803007106/en/

“Colony at Centerpointe is the type of well-located multifamily asset that 1031 exchange investors are seeking,” said Louis Rogers, founder and co-chief executive officer of Capital Square.